These 10 GTA condo buildings are giving the best return on investment

Buying a condo anywhere in the GTA is a pretty safe investment, especially in the current market. But some units in particular condo buildings are appreciating much faster than others.

A new report from Strata.ca reveals the 10 GTA condos that have seen the highest appreciation rates over the past year, and for the first time in six months, Toronto condos do not dominate the list. In fact, just one condo building in the city even made it onto the list.

“This may simply reaffirm what many of us have known all along,” said Robert Van Rhijn, broker of record at Strata.ca. “Homebuyers are increasingly looking outside city limits for affordability, and the data is finally starting to reflect that trend.”

“By looking outside the city, you’re buying into a market at much cheaper prices with the potential to earn back that investment at a much quicker pace.”

Realtor Nathaniel Hartree-Hallifax says that condos in Toronto may have hit their maximum in terms of appreciation.

“Properties outside the city have so much more room to appreciate,” Hartree-Hallifax said. “Whereas condos in Toronto have already hit that glass ceiling of affordability.”

With some condos seeing appreciation rates upwards of 40 or even 50%, here are the top 10 GTA condo buildings that have seen the best return on investment.

1. Lakepoint Condos

2190 Lakeshore Road, Burlington, ON

Appreciation rate: 53%

2. Pears on the Avenue Condos

127-135 Pears Avenue, Toronto, ON

Appreciation rate: 41%

3. Vibe Condos

5030, 5010, 5020 Corporate Drive, Burlington, ON

Appreciation rate: 40%

4. Wentworth Gardens Townhomes

401 Wentworth Street West, Oshawa, ON

Appreciation rate: 39%

5. Kenora Townhomes

250-262 Kenora Avenue, Hamilton, ON

Appreciation rate: 37%

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6. Sprucedale & Palisades Townhomes

1-118 Sprucedale Way & 10-34 Palisades Court, Whitby, ON

Appreciation rate: 37%

7. Glen Erin Drive Townhomes

4171 Glen Erin Drive, Mississauga, ON

Appreciation rate: 37%

8. Glen Street Townhomes

1010 Glen Street, Oshawa, ON

Appreciation rate: 36%

9. Pearson Street Townhomes

222 Pearson Street, Oshawa, ON

Appreciation rate: 36%

10. Dorchester Drive Townhomes

540 Dorchester Drive, Oshawa, ON

Appreciation rate: 34%